Re-Thinking the Commercialization of Public Science: From Entrepreneurial Outcomes to Societal Impacts

Academy of Management Perspectives, 32: 4-20 (2018)

34 Pages Posted: 15 Feb 2018 Last revised: 14 Jun 2018

See all articles by Riccardo Fini

Riccardo Fini

University of Bologna - Department of Management; Imperial College London

Einar Rasmussen

Nord Universtiy

Donald Siegel

Arizona State University (ASU) - School of Public Affairs

Johan Wiklund

Syracuse University

Date Written: February 4, 2018

Abstract

Studies have demonstrated the importance of scientific research for innovation and economic performance at the firm and regional levels, and policymakers have extensively supported the commercialization of public science. However, we still lack theoretical and empirical evidence on the link between the commercialization of public science and broader, societal impacts. Despite a large body of evidence on the determinants of science commercialization, for instance in the literature on academic entrepreneurship, the consequences of such activities remain less explored. In this article, we seek to fill this void by viewing science commercialization as a means rather than as a final outcome. Instead of mapping the direct outcomes of the science-commercialization process, mostly achieved through entrepreneurial activities, science commercialization can be seen as an enabler of broader societal impacts. This article outlines a research agenda on the societal impacts of science commercialization by extending current theories, data, and methods, as well as the need to consider ethical concerns and who is benefiting from these impacts.

Keywords: Public Science, Entrepreneurship, Commercialisation, University-Industry Relationships

JEL Classification: O3

Suggested Citation

Fini, Riccardo and Rasmussen, Einar and Siegel, Donald and Wiklund, Johan, Re-Thinking the Commercialization of Public Science: From Entrepreneurial Outcomes to Societal Impacts (February 4, 2018). Academy of Management Perspectives, 32: 4-20 (2018). Available at SSRN: https://ssrn.com/abstract=3117767

Riccardo Fini (Contact Author)

University of Bologna - Department of Management ( email )

Via Terracini 28
Bologna, 40131
Italy

HOME PAGE: http://www.unibo.it/faculty/riccardo.fini

Imperial College London ( email )

South Kensington Campus
London SW7 2AZ, DC
United Kingdom

HOME PAGE: http://www3.imperial.ac.uk/people/r.fini

Einar Rasmussen

Nord Universtiy ( email )

Post Office Box 1490
Bodø, Nordland 8049
Norway

Donald Siegel

Arizona State University (ASU) - School of Public Affairs

Farmer Building 440G PO Box 872011
Tempe, AZ
United States

Johan Wiklund

Syracuse University ( email )

Whitman School of Management
720 University Avenue
Syracuse, NY 13244-2130
United States

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